Aluminum hits biggest loss since 2008
Aluminum prices experienced a significant decline in June, falling by more than 15%, marking the largest monthly loss since 2008. This followed the easing agreements between the United States and Iran, which raised expectations of resuming shipments through the Strait of Hormuz. As a result, concerns over supply shortages eased, and premiums outside China decreased, compounded by the strengthening US dollar that put additional pressure on industrial metal prices. Meanwhile, the prices of some metals such as copper and zinc rose in the global market, despite ongoing purchasing cost pressures and ample supply.
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